Millennials (those between the age of 18-34) engage more in domestic online transactions than cross-border transactions, a recent report by Ipsos on behalf of American online payments firm PayPal says.
The research conducted from September to October 2015 on 23,000 individuals in India and abroad, reveals that 61 percent of millennials shop from domestic portals while the remaining 39 percent who engage in both cross-border and domestic transaction.
Of all millennials surveyed, 82 percent shopped online in the past 12 months, and 86 percent chose PayPal to make their transactions, revealed the report.
Calling millennials “bold” and “tech savvy”, Anupam Pahuja, Managing Director and General Manager of PayPal Asia Pacific told BloombergQuint in an interview that the proportion of millennials spending on cross-border transactions is expected to rise in the coming years with more payment gateways opening up.
Read the full BloombergQuint report here.
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)